Fort Lauderdale self storage sells for $3.2M

Miami /
Sep.September 28, 2015 01:30 PM

A pair of self storage properties in Fort Lauderdale have just sold for $3.2 million — more than three times their last sale price.

The properties are located at 812 Northwest First Street in the city’s central business district. They include two connected warehouses with a combined 32,964 square feet of space.

NationStorage, an affiliate of the DFD Development Corp., had owned the properties for roughly 17 years before losing them to foreclosure. In February, a pair of New York investors swooped in and purchased the warehouses for $926,500 through their company AGP Partners, according to Broward County records.

Corporate records show that the managers of that company were Avrohom Oustatcher and Menachem Goldstone.

The new buyer is Miami City Self Storage, a developer of infill self-storage properties throughout South Florida. Earlier this year, the company embarked on a plan to build 1 million square feet of such properties, starting with the purchase of six commercial lots in Miami-Dade County.

Miami City took out an $11.76 million loan on the two Fort Lauderdale parcels from Jernigan Capital. It’s unclear if the company is going to redevelop the lots or keep them as income-producing properties. Miami City could not immediately be reached for comment.


Related Articles

arrow_forward_ios
Nautical Ventures Marine CEO Roger Moore and Holman Automotive CEO Brian Bates with 1400 South Federal Highway (Google Maps)

Holman sells former Fort Lauderdale BMW dealership for $6M

Holman sells former Fort Lauderdale BMW dealership for $6M
David Cassidy and 1600 South Ocean Drive in Fort Lauderdale (Getty)

David Cassidy’s former Fort Lauderdale home sells

David Cassidy’s former Fort Lauderdale home sells
ICM CEO Bruce Timm and HS Capital Fund CEO Harry Spitzer with 1901 West Cypress Creek Road, Fort Lauderdale (Google Maps)

HS Capital buys Fort Lauderdale office building for $18M

HS Capital buys Fort Lauderdale office building for $18M
Orianne Collins and 34 Isla Bahia Drive (Getty, Google Maps)

Phil Collins’ ex-wife buys waterfront Fort Lauderdale mansion amid legal battle

Phil Collins’ ex-wife buys waterfront Fort Lauderdale mansion amid legal battle
Robert Palmisano and 2623 Delmar Place (Wright Medical)

Healthcare CEO buys waterfront Fort Lauderdale mansion for $9M

Healthcare CEO buys waterfront Fort Lauderdale mansion for $9M
The Gale Hotel with Harvey Hernandez

Banyan Investment buys Gale Fort Lauderdale hotel from Harvey Hernandez

Banyan Investment buys Gale Fort Lauderdale hotel from Harvey Hernandez
Jonathan W. Ayer & 3320 Northeast 58th Street, Fort Lauderdale (IDEXX, Florida Luxurious Properties)

$10M Fort Lauderdale mansion sale boosts luxury market

$10M Fort Lauderdale mansion sale boosts luxury market
Rendering of the project

Fort Lauderdale OKs plan for Bahia Cabana Hotel on the beach

Fort Lauderdale OKs plan for Bahia Cabana Hotel on the beach
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...